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Economy | Time: Nov 7 2019 10:40AM
Boeing's trade war costs depend on US moves
 
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Even zero sales in China can't persuade US companies to leave the world's second-largest economy. So, what's the point of the trade war for the US economy? It is time to put an end to the trade row.

Sherry Carbary, Boeing China president, was quoted by the Shanghai Observer as saying on Tuesday that even though Boeing had no sales in China for the past two years, the company is still sincerely looking to be partners with Chinese domestic airlines and is confident in reopening the Chinese market. She said Boeing has been in China for more than 50 years, and the Chinese market will soon replace the US as Boeing's largest, the Shanghai Observer reported.

US President Donald Trump in August ordered US companies to "immediately start looking for an alternative to China," but those enterprises don't seem to want to obey his dictate. At the Second China International Import Expo (CIIE), which opened in Shanghai on Tuesday, US companies occupy 47,500 square meters of exhibition area, the largest among all participating counties and regions. The large presence of US businesses shows how determined US companies are to keep their footholds in China, despite Washington's dictate.

It is undeniable that the trade war launched by the US has failed to achieve its expected results. Considering opposition from US enterprises, the trade war has been an embarrassing failure for US policymakers. It is the time to end this farce.

The outcome of the trade war suggests it's an illusion to believe China and the US can decouple their economies from one another in the era of globalization.

If the trade war continues, big enterprises in China and the US will be hurt. Boeing is one prominent example. As the US' biggest manufacturing exporter and one of the nation's biggest private employers, Boeing has huge influence on the US economy.

Boeing's failure to achieve any sales in the Chinese market represents a major loss for the US economy.

The trade war will cause damage to both the Chinese and US economies sooner or later if it persists.

The US may hope its economy can benefit from cracking down on Chinese high-tech companies such as Huawei. If Washington really thinks that, it should look at Boeing's woes first.

Source: Globaltimes
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